
# generate table 2

library(rio) # to load data
library(tidyverse) # to reshape data
library(AER) # to estimate tobits
library(lmtest) # to cluster standard errors
library(sandwich) # to cluster standard errors
library(texreg) # to generate tables

# set your working directory
setwd("~/replication_files")

monthly_data <- import("data/monthly_data.csv")

# table 2

# model 1
tobit1 <- tobit(log_sovereign_issued_1yr_amount ~
                  resource_rents_perc_lag +
                  log_oil_production_lag +
                  terms_of_trade_lag +
                  discovery_lag +
                  I(iso3c) +
                  time,
                data = monthly_data, robust = T)

# model 2
tobit2 <- tobit(log_sovereign_issued_1yr_amount ~
                  resource_rents_perc_lag +
                  log_oil_production_lag +
                  terms_of_trade_lag +
                  discovery_lag +
                  minister_is_econ_technocrat_usa +
                  minister_turnover_5yrs +
                  debt_crisis_experience +
                  election_month + left_exec +
                  fiscal_council + 
                  polcon + 
                  I(iso3c) +
                  time,
                data = monthly_data, robust = T)

# model 3
tobit3 <- tobit(log_sovereign_issued_1yr_amount ~
                  resource_rents_perc_lag +
                  log_oil_production_lag +
                  terms_of_trade_lag +
                  discovery_lag +
                  imf_agreement +
                  fiscal_balance_lag + 
                  tax_perc_gdp_cepal_lag +
                  log_core_inflation_lag +
                  gdp_pc_cepal_lag +
                  gdp_growth_cepal_lag +
                  ka_open_lag +
                  log_reserves_lag +
                  treasury_rate_lag +
                  I(iso3c) +
                  time,
                data = monthly_data, robust = T)

# model 4
tobit4 <- tobit(log_sovereign_issued_1yr_amount ~
                  resource_rents_perc_lag +
                  log_oil_production_lag +
                  terms_of_trade_lag +
                  discovery_lag +
                  minister_is_econ_technocrat_usa +
                  minister_turnover_5yrs +
                  debt_crisis_experience +
                  election_month + left_exec +
                  fiscal_council + 
                  polcon + 
                  imf_agreement +
                  fiscal_balance_lag + 
                  tax_perc_gdp_cepal_lag +
                  log_core_inflation_lag +
                  gdp_pc_cepal_lag +
                  gdp_growth_cepal_lag +
                  ka_open_lag +
                  log_reserves_lag +
                  treasury_rate_lag +
                  I(iso3c) +
                  time,
                data = monthly_data, robust = T)

# generate table
texreg(l = list(tobit1,tobit2,tobit3,tobit4), stars = c(0.01, 0.05, 0.1),
       custom.coef.map = list("resource_rents_perc_lag" = "Resource Rents, % of GDP $_{t-1}$",
                              "log_oil_production_lag" = "Ln Oil and Gas Production $_{t-1}$",
                              "terms_of_trade_lag" = "Commodity Price Index $_{t-1}$",
                              "discovery_lag" = "Field Discovery $_{t-1}$",
                              "minister_is_econ_technocrat_usa" = "Mainstream Minister = 1",
                              "minister_turnover_5yrs" = "Minister Turnover (5 Years)",
                              "debt_crisis_experience" = "Debt Crisis Experience = 1",
                              "election_month" = "Election Month = 1",
                              "left_exec" = "Left Executive = 1",
                              "fiscal_council" = "Fiscal Council = 1",
                              "polcon" = "Political Constraints",
                              "imf_agreement" = "IMF Agreement = 1",
                              "fiscal_balance_lag" = "Fiscal Balance, % of GDP",
                              "tax_perc_gdp_cepal_lag" = "Tax Revenue, % of GDP $_{t-1}$",
                              "log_core_inflation_lag" = "Ln Core Inflation $_{t-1}$",
                              "gdp_pc_cepal_lag" = "GDP Per Capita $_{t-1}$",
                              "gdp_growth_cepal_lag" = "GDP Growth, % $_{t-1}$",
                              "ka_open_lag" = "Capital Openness $_{t-1}$",
                              "log_reserves_lag" = "Ln International Reserves $_{t-1}$",
                              "treasury_rate_lag" = "US Treasury Rate, % $_{t-1}$",
                              "Log(scale)" = "Log(Scale)"),
       fontsize = "footnotesize", digits = 3)

